The market enters a week of major earnings reports, with key corporate signals emerging.
NVIDIA — expectations rise ahead of earnings. Ahead of its August 26 report, NVIDIA remains the market's main focus: analysts note sustained demand for Blackwell, rising AI infrastructure spending, and accelerating networking sales. Investors are already looking beyond the quarter to the gross margin trajectory, GB300 availability, and the future Rubin/Vera Rubin ramp in 2026.
Strategy Inc. — $334 million without selling bitcoin. The company raised approximately $334 million without reducing its BTC portfolio, directing part of the proceeds to repurchase preferred stock — a signal of a shift toward balance sheet management. Despite Q2 revenue growth, Strategy posted a loss and weak results relative to expectations, fueling active discussions around MSTR and analyst targets.
Super Micro Computer (SMCI) — AI server demand persists. Rosenblatt reiterated Buy with a $51 target, citing more than 20 new customers and improved margin/EPS forecasts for FY2027. The stock correction is attributed to profit-taking after a strong report. Northland raised its target to $43, maintaining Hold.
Tesla — strong revenue, weak margins. Tesla in Q2 FY26 increased revenue by 25.5% to $28.24 billion, but margins declined. Investors highlight record FSD subscriptions, expansion of Optimus lines, and progress in Robotaxi. Pressure comes from a major vehicle recall in China and a continued Sell rating from GLJ Research.
AMD — record quarter and accelerating AI story. AMD in Q2 FY26 posted $11.54 billion in revenue, including 57% year-over-year growth in data center and a $6.7 billion result. Analysts are raising targets; BMO initiated coverage with Outperform and a $550 target. Tim Ryan was added to the board of directors.
Microsoft — China accelerates Windows phase-out. Chinese government agencies have begun moving away from Windows faster than planned, raising new questions about Microsoft's position in the Chinese market and its prospects in the public sector.
Micron — strong upgrade from rating agencies. Bank of America maintained Buy and raised its target to $1,550, noting memory's shift to a less cyclical phase. S&P Global upgraded Micron to BBB+ with a positive outlook — a key argument: sustained AI memory demand at least through 2028.
Alphabet (Class A) — Berkshire increases stake. The main theme is Berkshire Hathaway's significant stake increase in the second quarter. This is discussed against the backdrop of Alphabet's strong results, Google Cloud acceleration, rising capex, and regulatory pressure in Europe.
Alphabet (Class C) — expanded partnership with Marvell. Google gained the right to acquire up to 59 million Marvell shares under an agreement to develop the TPU ecosystem and custom chips. This strengthens Alphabet's position in infrastructure for inference, storage controllers, and other data center components.
IREN — progress in AI cloud, but market awaits report. Microsoft accepted Horizon 1 at the Childress campus; NVIDIA awarded IREN Exemplar Cloud status for GB300 NVL72. The company raised its annualized run-rate revenue above $4 billion, but the market is cautious ahead of the August 27 report due to weaker quarterly forecasts.
